Barnett & Company Inc. Has $2.13 Million Stock Position in CSX Co. (NASDAQ:CSX)

Barnett & Company Inc. increased its stake in CSX Co. (NASDAQ:CSX) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,650 shares of the transportation company’s stock after acquiring an additional 5,700 shares during the quarter. CSX accounts for approximately 1.4% of Barnett & Company Inc.’s portfolio, making the stock its 24th largest position. Barnett & Company Inc.’s holdings in CSX were worth $2,129,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in CSX in the 2nd quarter valued at $27,000. Fairscale Capital LLC purchased a new position in CSX during the second quarter worth about $32,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX in the third quarter worth approximately $31,000. Finally, Addison Advisors LLC lifted its position in CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock traded down $0.26 during trading hours on Tuesday, hitting $36.26. The stock had a trading volume of 2,063,519 shares, compared to its average volume of 11,695,972. CSX Co. has a 1-year low of $30.30 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock’s fifty day moving average is $34.19 and its two-hundred day moving average is $33.84. The stock has a market capitalization of $69.92 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 2.28 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the company posted $0.42 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CSX shares. JPMorgan Chase & Co. increased their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Barclays dropped their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.